Florida HB 1403: School Choice

Bill Text

HB 1403 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1403-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to deferred compensation plans for 2
public employees; providing a short title; amending s. 3
112.215, F.S.; authorizing the inclusion of an 4
automatic enrollment arrangement in a government 5
employee's deferred compensation plan; requiring that 6
the automatic enrollment arrangement be established 7
with a default contribution rate; authorizing the 8
periodic reenrollment of specified government 9
employees; authorizing the periodic resetting of 10
contribution rates for specified government employees; 11
requiring that the automatic enrollment arrangement 12
provide employees the ability to make certain 13
elections regarding contributions; requiring that the 14
plan provide for a default investment into which 15
contributions must be placed under a specified 16
circumstance; authorizing counties, municipalities, 17
political subdivisions, and constitutional county 18
officers to adopt automatic enrollment arrangements 19
for specified deferred compensation programs; 20
providing that the deferred compensation plan of the 21
state may adopt an automatic enrollment arrangement 22
only upon the approval of the Legislature; amending 23
ss. 110.114 and 112.171, F.S.; requiring that a 24
certain deduction of the wages or salary of employees 25

HB 1403 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

be treated in a specified manner; providing an 26
effective date. 27
28
Be It Enacted by the Legislature of the State of Florida: 29
30
Section 1. This act may be cited as the "Deferred 31
Compensation Automatic Enrollment Act." 32
Section 2. Subsection (3) of section 112.215, Florida 33
Statutes, is amended to read: 34
112.215 Government employees; deferred compensation 35
program.— 36
(3)(a) In accordance with a plan of deferred compensation 37
which has been approved as herein provided, the state or any 38
state agency, county, municipality, other political subdivision, 39
or constitutional county officer may, by contract or a 40
collective bargaining agreement, agree with any employee to 41
defer all or any portion of that employee's otherwise payable 42
compensation and, pursuant to the terms of such approved plan 43
and in such proportions as may be designated or directed under 44
that plan, place such deferred compensation in savings accounts 45
or use the same to purchase fixed or variable life insurance or 46
annuity contracts, securities, evidence of indebtedness, or such 47
other investment products as may have been approved for the 48
purposes of carrying out the objectives of such plan. Such 49
insurance, annuity, savings, or investment products must shall 50

HB 1403 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

be underwritten and offered in compliance with the applicable 51
federal and state laws and regulations by persons who are duly 52
authorized by the applicable state and federal authorities. 53
(b) Such plan of deferred compensation may include an 54
automatic enrollment arrangement under which a government 55
employee's otherwise payable compensation is deducted and 56
contributed to the plan unless the government employee elects 57
not to contribute or elects to contribute a different rate or 58
amount. Such automatic enrollment arrangement must establish a 59
default contribution rate, may provide for the periodic 60
reenrollment of government employees eligible but not 61
participating in the plan, and may allow the periodic resetting 62
of contribution rates for government employees contributing at 63
rates lower than those established by the automatic enrollment 64
arrangement. 65
(c) An automatic enrollment arrangement must provide that 66
a government employee may, at any time, elect not to contribute 67
to the plan or may elect to contribute to the plan at a 68
different rate or amount than the default rate. 69
(d) If a deferred compensation plan includes an automatic 70
enrollment arrangement, the plan must provide for a default 71
investment into which contributions must be placed in the 72
absence of an election from the government employee. 73
(e) Any county, municipality, or other political 74
subdivision of the state may by ordinance, and any 75

HB 1403 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

constitutional county officer under s. 1(d), Art. VIII of the 76
State Constitution may by contract agreement or other 77
documentation constituting approval, adopt an automatic 78
enrollment arrangement for its own deferred compensation 79
program. Notwit